Multitude SE: Transfer of Registered Office to Malta Due to
be Completed on 30 June 2024
Helsinki, 17 June 2024 – Multitude SE, a listed European FinTech
company, offering digital lending and online banking services to
consumers, small and medium-sized businesses, and other FinTechs
(ISIN: FI4000106299, WKN: A1W9NS) (“Multitude”, “Company” or
“Group”) announces, that the transfer of the Company’s registered
office from Finland to Malta in accordance with Article 8 of the
Council Regulation (EC) No 2157/2001 of 8 October 2001 on the
Statute for a European company (SE) (“SE Regulation”) (“Transfer”)
is due to take place on 30 June 2024 (“Transfer Date”).
As communicated on 21 March 2024, the Transfer has been approved
by the Company’s Extraordinary Shareholders’ General Meeting. The
Finnish Trade Register has issued its permit for the Transfer on 20
May 2024. The Company expects that all other necessary consents and
approvals for the Transfer will have been received and all
conditions for the Transfer will have been fulfilled or, where
relevant, waived, by the Transfer Date.
The Transfer will not affect the listing of the Company on the
regulated market (Prime Standard) of the Frankfurt Stock Exchange.
The Company shares will continue to be listed on the Frankfurt
Stock Exchange, and trading is expected to continue without any
interruptions. The ISIN of the shares will change from the current
Finnish ISIN to a new Maltese ISIN (MT0002810100). The new Maltese
ISIN will be applied as of 1 July 2024.
In connection with the Transfer, the Company’s issuer central
securities depository (“Issuer CSD”) will change from Euroclear
Finland Oy (“EFi”) to the CSD operated by the Malta Stock Exchange
(“MSE CSD”) and, consequently, the Company’s shares will be removed
from the Finnish book-entry securities depository maintained by
EFi. As a result of this change, the MSE CSD will hold the
Company’s share register. No individual shareholders will be
registered with the MSE CSD, however. Instead, all the Company’s
shares will be held through the international central securities
depository Clearstream Banking S.A., Luxembourg (“CBL”) acting as a
nominee.
To facilitate the Transfer and the change of the Issuer CSD and
to avoid even any temporary disruption in trading in the Company
shares, the shares that are not yet held through CBL, acting, among
others, for its sister company the German central securities
depository Clearstream Banking AG, Frankfurt (“CBF”, together with
CBL, “Clearstream”) will be transferred to CBL’s account in EFi
already prior to the Transfer Date. The transfers to Clearstream
are expected to take place at the latest before or during the last
week of June so that all shares will be held through CBL prior to
the Transfer Date.
The transfers to CBL’s account in EFi will, in most cases, take
place without any action required from the shareholders. However,
in some cases shareholders may be contacted by their account
operator or other custodian with a request for action, in which
case the Company asks its shareholders to cooperate with the
account operator or other custodian to ensure that the account
operator or other custodian will be able to transfer the shares as
described above. Failure to transfer the shares to Clearstream
prior to the Transfer Date may result in the shareholder not being
able to exercise their shareholder rights in the Company after the
Transfer Date until they have arranged the custody of their shares
with a custodian bank affiliated with CBF or CBL.
Finnish book-entry accounts maintained in EFi’s book-entry
system are not capable of being used for holding the Company shares
after the Transfer and the change in the Issuer CSD. For
shareholders currently holding their shares on Finnish book-entry
accounts this means that the shares will cease to be registered on
the shareholder’s book-entry account and, instead of a book-entry
account, must be held in custody through Clearstream. As provided
in the Board of Director’s Report dated 17 January 2024, the
Transfer may have implications for the shareholders e.g. in the
form of additional costs incurred as a result of the transfer of
the shares and the shares being held through Clearstream.
As communicated by the Company on 5 January 2024, the Transfer
is the first phase in the Company’s contemplated relocation to
Switzerland. After the Transfer, the Company is planning a
conversion into a public limited liability company governed by the
laws of Malta pursuant to Article 66 of the SE Regulation followed
by a redomiciliation to Switzerland pursuant to applicable Maltese
and Swiss laws.
Contact:
Lasse Mäkelä
Chief Strategy and IR Officer
Phone: +41 79 371 34 17
E-Mail: Lasse.makela@multitude.com
About Multitude SE:
Multitude is a listed European FinTech company, offering digital
lending and online banking services to consumers, small and
medium-sized businesses, and other FinTechs overlooked by
traditional banks. The services are provided through three
independent business units, which are served by our internal
Banking-as-a-Service Growth Platform. Multitude’s business units
are consumer banking (Ferratum), SME banking (CapitalBox) and
wholesale banking (Multitude Bank). Multitude Group employs over
700 people in 25 countries and offers services in 16 countries,
achieving a combined turnover of 230 million euros in 2023.
Multitude was founded in Finland in 2005 and is listed on the Prime
Standard segment of the Frankfurt Stock Exchange under the symbol
'FRU'.
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